After months of bad news for those who have variable mortgages in Spain due to the continued rise in interest rates and the Euribor, an index that most experts placed at 4% throughout 2023, the shock in the markets caused by the intervention of the American Silicon Valley Bank last Friday could change the forecasts.
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The Economist Gonzalo Bernardos believe that this is what will happen and that interest rates will not rise above 3%, which would give an unexpected respite to those who are suffering from the escalation of the Euribor in their monthly loan installments. “If the European Central Bank did its job well, the rise from 3 to 3.5% would be aborted,” said the professor at The sixth.The collapse of Silicon Valley Bank has caught the European Central Bank (ECB) and to Federal Reserve of the US in the process of raising interest rates to stop the escalation of inflation, but the situation has completely changed.
According to Bernardos, “It makes no sense that the Federal Reserve, on the one hand, throws more money into the market and on the other hand, with the increase, removes it.” For their part, the Eurozone Economy and Finance Ministers agree that The increase in market volatility requires “prudence” and, according to the Spanish minister, Nadia Calvino, “to monitor monetary policy on both sides of the Atlantic”. That is to say, that both us federal reserve As the European Central Bank think again interest rate hike policy in which they embarked last year to curb inflationary tensions and which is expected to continue this week in Frankfurt.
